The Chancery Lane Project (TCLP) is a collaborative of UK lawyers working to develop new contracts and model laws to help fight climate change. Its mission is to create contracts and model laws to enable communities and businesses to fight climate change and achieve net zero carbon emissions for a 1.5 degree world.
Travers Smith's first TCLP project – namely the production of a template management equity ratchet term for inclusion in investment documents to financially incentivise management teams to meet targets which are linked to climate and environmental issues as opposed to purely financial targets – was included in TCLP's 2nd Edition of the Climate Contract Playbook.
Travers Smith's involvement in ‘The Big Hack’ resulted in the creation of ESG based performance conditions for employee incentive awards (Scarlett's Performance Conditions) which have been published by TCLP as part of their precedent bank.
